Nigerian Equities Market Gains N307 Billion on Tuesday

On Tuesday, the Nigerian equities market continued its bullish trend, appreciating by N307 billion. The market capitalization of listed equities increased by 0.19 percent, reaching N159.119 trillion from the previous day's N158.812 trillion.

The NGX All Share Index rose by 475.60 basis points, closing at 246,659.56 points, up from 246,183.96 points on Monday. The market breadth was positive, with 31 stocks advancing against 20 declining, contributing to a year-to-date return of 58.67 percent.

UPDReit led the gainers with a 9.86 percent increase, closing at N11.70 per unit, followed by Thomas Way at 9.73 percent, and Ikeja Hotel at 9.53 percent. Conversely, Mecure Plc topped the losers' chart, dropping by 9.95 percent to close at N76.95 per unit.

The volume of trades decreased by 6.313 million shares, totaling 845.287 million shares traded, while the value of transactions fell by 7.29 percent to N45.976 billion across 48,997 deals. Access Holdings Company led market activities with 331.132 million shares valued at N8.507 billion.